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Gold Holds Gain as Focus Turns to Upcoming U.S. Data


Wednesday, 2 October 2019 17:08 WIB

GOLDEMAS


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Gold held Tuesday’s gain as investors awaited more U.S. data for clues on haven demand and monetary policy after poor global factory numbers earlier this week.

Bullion rebounded from an almost two-month low to end Tuesday higher after a U.S. manufacturing gauge posted the weakest reading in a decade and the International Monetary Fund trimmed its growth outlook. Prices have been pressured by a stronger dollar and occasional indications of a possible thaw in the trade war.

Attention will now turn to more U.S. data due this week, including the ADP employment report on Wednesday and the monthly jobs report on Friday.

Spot gold gained 0.4% trading to $1,484.56/oz in London.

Source : Bloomberg


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